Registered Charity number.. 1089801 Registered Company number: 04259130 THE BEDGEBURY FOUNDATION TRUSTEE COMPANY TRUSTEES, REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 K¥(y Fo THE BEDGEBURY FOUNDATION TRUSTEE COMPANY CONTENTS Page Trustees, Report Report of the Independent Examiner Consolidated Statement of Financial Activtiies 10 Consolidated Balance Sheet Notes to the Financial Statements 12 THE BEDGEBURY FOUNDATION TRUSTEE COMPANY TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST2024 The Trustees, who are also the directors of the charitable company for the purposes of the Companies Act 2006, present their report and the unaudited financial statements of The Bedgebury Foundation Truslee Company for the year ended 31 August 2024. The Trustees confirm that the report and financial ststements of the charitable company comply with the Charities Act 2011, the Companies Act 2006, the requirements of the governing document, and the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)). Objectives and activities The Bedgebury Foundation Trustee Company has no activities of its own and acts as sole corporate Trustee of The Bedgebury Foundation ("the charity"), charity number 306306. The Truslees of The Bedgebury Foundation Trustee Company agreed the following objects for The Bedgebury Foundation with the Charity Commission in the scheme dated 31 August 2007. The charitable company is forlhe benefit of the public to advance education and training in accordance with the principles and practices of the Church of England through any or all of the following means.. Giving grants, bursaries, or other payments to young people under the age of 25 (or to educational institutions attended by such beneficiaries) to enable them to continue to undertake a course of study or training-, or to enable them to travel abroad to pursue their education. Providing financial or other assistance to individuals to assist their training as teachers The provision and operation of a day andlor boarding school. The principal activity of the charitable company in the year under review was that of making grants for the benefit ofyoung people through the first two means. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company Should undertake through the charity. Achievements and performance There were four ways grants were awarded in 2023-2024 Inspiring Young Minds, by application with a Language Communication theme in Spring 2024, 26 awards totalling £67,200 Number of Awards 2023.2024 Teacher and Training, by application in Autumn 2023 and Spring 2024, 20 awards totalling £57,400 School Partnerships with Hartsdown Academy and St John Primary- the Year 3 granl awarded for 2024-2025 totalling £48,500 for the two schools. Two grant8 to charities totalling £1,000 THE BEDGEBURY FOUNDATION TRUSTEE COMPANY TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The charitable company evaluates the outcomes achieved by grants each summer mostly looking at awards made in the previous year. The following outcomes refer to grants awarded in the year to 31 August 2023 and most of the activities were undertaken in the current year to 31 August 2024. Insplrlng Young Minds Jthb@r of Chlldten support￿d Teacher: All children are now more confident in class and a able to contnbuto to class disCuss￿nS Teacher." Those cliildren requiring specialisl speech and language intervenlions are lired of sitting wilh reading books and Ilash cards, we have been able to widen Èhe lypes of lexl showing students how reading fils into their everyday lives. I Ihink Ihis l?as been th& besl invesfment Ksi support1￿% 579¢hlidiefv 17sEh•o 90% 89% 83.5% All schools ststed the granl had provided a legacy beyond the year of support for both children and the teacher learning strategies to support those children. Teaching and Training The Teaching and Training gr8nls can be roughly split into short courses for one or a group of staff usually with Continuing Professional Development (CPD) accreditation or longer courses at level 5 to Masters level. All courses contribute to long temi transferable skills into state schools and the longer courses may not be completed for several years after the award of a grant. For holders completing courses there has been pleasing feedback.. For Longer courses '1 have been able to work wi117 chIld￿n at risk of dyslexia diwtly and support thcm with slralegies lo ijse Ihe classroom. .and I have advised many teachers and teaching assistanls within the school on how to best support individuals. I prodiiced a gU￿e and presenlation on supporting pupils with dyslexia and have delivered this in my own school and at a Trust conference thal was attended by staff from ten olherschools, 'Young people have benefitted as I have created a 'dyscalGulia' supportive pmvision for multiplication times tables, I have begn able to provide paronts and carers with specific areas in which to support their THE BEDGEBURY FOUNDATION TRUSTEE COMPANY TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 children and I have been able lo equip the learning support dep8rtment specific maths equipn7enl that is needed to make maths learning fun and concrete, 'Greater understanding of SEND needs related to emotional wellbeing has enabled me lo set up nurture areas and interventions and promote a deeper understanding of emotional self-regulation amongst staff. The school has also been assessed and achieved both a Nurture UK accreditation and a Wellbeing award, For CPD 'We trained staff in Drawing and Talking therapy and Emotional Literacy. Offering this support to children 8nables us to address baffiers to learning and promote wellbeing 8nd mental health, School Partnerships The Trustees have looked at different ways of reaching more children effectlV8ly and from 2022 has been piloting significant multiyear grants to schools with pupils facing multiple and complex challenges. The sthools were selected using publicly avai18ble data and the Trustees were looking for engaged and forward-thinking leadership teams. Hartsdown Academy in Margate (Total Grant awarded over 3 years £84,000) In 2022 Hartsdown A¢aderny's accepted proposal to the Trustees were to develop a whole school approach to supporting children with their social, emotional and mental health needs (SEMH) alongside a continuum of provision for those with greater levels of SEMH challenges. The key achievements in the past year are: Reductions in high level behavioural difficulties. isolations and altemative provision Students and parents report feeling an increasing level of safety and communication in school Improvement in attendance at Parents evenings Commencing STRIVE curriculum -SGholarship, Teamwork. Resilience, Integrity, Vision and ExcellenGe. Commenced use of THRIVE Changes in leadership team to provide more focus on supporting students wellbeing St John's Church of England Primary School in Canterbury {Totsl Grant awarded over 3 years £8S.500) In 2022 St John's accepted proposal to the Trustees were to improve assessment methods and training to identify Special Educational Needs at the earliest opportunity and enable suitable provision to be provided. The key achievements reported this year are.. THRIVE has been successfully introduced enabling both whole school (by class) activities and individual assessments. Introduction of personalised interventions for students to help them progress on their Thrive joumey Jigsaw - a mindful approach to PHSE has been introduced across the school The at school Speech and Language Therapist has worf and The Bedgebury Foundation (Charty Commission no.. 306306). These entities have been consolidated under the requirements of the Statement of Recommended Practice, effective January 2019, and relevant accounting standards. The parent entity, by virtue of it being the Corporate Trustee of The Bedgebury Foundation, is the Bedgebury Foundation Trustee Company, a company limited by guarantee and not having a share capital, and which is a regislered charity governed by lis memorandum and articles of association. The directors of the corporate charity are ils Trustees for the purposes of charity law and throughout this report are collectively referred to as the Trustees. The Trustees and members of the Trustee, the Bedgebury Foundation Trustee Company, who served during the year and up to the date of signature of the financial statements were.. P A Haines (appointed 12 June 2024) R Hardingham H McGill A Musker C Pollington {appointed 12 June 2024, resigned 6 January 2025) K Rees C Showell J van Eyssen {resigned 12 June 2024) l Dodrjs A Young The Trustee Board meets at least four times each year and is chaired by R Hardingham. The Trustee Board consider the business of the charitable company and approves grants for distribution. Day to day management of the charitable company is delegated to the Company Secretary of the Bedgebury Foundation Trustee Company, Jane Angell- Payne Bsc ACA DChA. During the period covered by this report, Bedgebury Foundation operated from an office in Pembury. Kent. Vacancies on the Trustee THE BEDGEBURY FOUNDATION TRUSTEE COMPANY TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Board of BFTC are advertised with an indication of the particular skills required at that time, candidates are interviewed by at least Trustees and appointed by a majority vote of all Trustees. Organlsatlonal structure The Bedgebury Foundation Trustee Company is the sole trustee of the charity The Bedgebury Foundation (Charity number 306306). The control and overall management of the charity is exercised by the Trustee Board in accordance with the Memorandum and Articles of the Bedgebury Foundation Trustee Company. During the period sub-committees have operated: The Grant Awards Team, chaired by The Bedgebury Foundation Trustee Company Trustee, Karen Rees, membership is four additional Trustees, the Director and one volunteer with experience ofteaching and assessing young people with specific learning difficulties. This team conducts the first evaluation of eligible grant applications and makes recommendations to the board. The Strategic Investment Team, chaired by The Bedgebury Foundation Trustee Company Trustee, Christopher Showell, wilh one other Trustee and the Director. This team leads the three yearly review of investment policy and investment managers and the annual review of investment performance. Reference and administrative information Secretsry J Angell-Payne Bsc ACA DChA Registered charity number 1089801 Registered company number 04259130 Principal office address Priory Cottage Romford Road Pembury Kent TN2 4JD Independent examiner J Mathieson FCA Lindeyer Francis Ferguson Limited Chartered Accountants and Chartered Tax Advisers North House 198 High Street Tonbridge Kent TN9 1BE Prtncipal bankers National Westminster Bank plc High Street Cranbrook Kent TN17 3EA Scottish Widows Bank plc PO Box 12757 67 Morrison Street Edinburgh EH3 8YJ CCLA Senator House 85 Queen Victoria Street London EC4V 4ET THE BEDGEBURY FOUNDATION TRUSTEE COMPANY TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Investment advisers RBC Brewin Dolphin Limited 12 Smithfield Street London EC1A 9BD Statement of Trustees, Responsibilities The trustees, who are also the direetots of The Bedgebury Foundation Trustee Company for the purpose of company law. are responsible for preparing the Annual Report and accounts in accordance with applicable law and regulations. Company law requires the directors to prepare accounts for each financial year. Under that law they have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl. Under company law the director5 musl not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these accounts, the directors are required to, Select suilable accounting policies and then apply them consistently., Observe the methods and principles of the Charities SORP., Make judgements and estimates that are reasonable and prudent, and Prepare the accounts on the going contsrn basis unless it is inappropriate to presume that the company will conlinue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's Iransaclions, disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the company and to prevent and detect fraud and other irregularities. ort was approved b the Trustee on 6 February 2025 and signed on its behalf by: R Hardingham Chairman THE BEDGEBURY FOUNDATION TRUSTEE COMPANY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST2024 I report to the charity directors on my examination of the accounts of the charitable company for the year ended 31 August 2024. Respective rasponsibiliti8s and basis of report As the trustees of the charitable company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myselfthat the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 {'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe= Accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act., or The accounts do not accord with those records; or The accounts do not Comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair view, which is not matter considered as part of an independent examination.. or The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report and in order to enable proper understanding of the accounts to be reached. J Mathi on FCA Lindeyer Francis Ferguson Limited Chartered Accountants North House, 198 High Street Tonbridge, Kent TN9 1BE Date.. THE BEDGEBURY FOUNDATION TRUSTEE COMPANY CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 2024 Unrostricted funds 2024 2024 Restricted Endowment funds funds 2024 Total funds 2023 Total funds Note Income from: Investments 27 988 148.172 149,187 164,492 Total income 27 988 148,172 149,187 164,492 Expenditure on: Raising funds Charitable activities 4,899 171,430 31,612 36,511 171,430 38,190 113,957 Total expenditure 176,329 31,612 207,941 150,147 Net gains l (losses) on investments 509,338 509,338 (174.284> Net income (176,302) 988 625,898 450,584 (159,939> Transfers be￿een funds 11 200,000 (200,000) Net movement in funds 23,698 988 425,898 450,584 (159,939) Reconciliation of funds: Total funds.. Brought fO￿ard 82,291 17,118 4,910,208 5,009,617 5,169,556 Carried fO￿ard 11 105,989 18,106 5,336,106 5,460,201 5,009,617 10 THE BEDGEBURY FOUNDATION TRUSTEE COMPANY CONSOLIDATED BALANCE SHEET AS AT31 AUGUST2024 Group 2024 2024 2023 2023 Note Flxed assets Listed investments 5,321,126 4,914.572 5,321,126 4.914.572 Current assets Debtors Dividends receivable Cash al bank and in hand 16.892 222,983 15,545 235,782 239,875 251,327 Current liabllltles Creditors.. amounts falling due within one year (100,800) 1156,282) Net current assots 139,075 95.045 Total net assets 5,460,201 5,009,617 The funds of the charity Endowment fijnds Restricted funds Unrestricted funds 5,336,106 18,106 105,989 4,910,208 17,118 82,291 11 5,460.201 5,009,617 Results for the Company only No separate St8tement of Flnanclal Activltles has been presented for the company as pemiltted under sectlon 408 of the Companies Act 2006. The cornpany has no income or 8xp8nditure for the Current year. The company has no assets, liabilities or funds and accordingty no company Balance Sheet has been presented. For the financial year ended 31 August 2024 the chariteble company vrds enkn'tled to exemption from audil under section 477 Companies Act 2006 relatlng to small companies. Directors, responsibilities.. The members have not required the company to obtsin an audit of its financial statements for the year in questlon in accordanc8 with section 476; and The trustees, who are also the directors of the charitable company for the purposes of company law, acknowledge their responsibilities for complying vAth the requirements of the Act with respect to accounting records and the preparation of the financlal statements. These financial statements have been prepared in accordance With the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies. The financial stalement approved by the B08rd of Trustees on 2025 and signed on its R Hardlngham irman Company number: 04259130 THE BEDGEBURY FOUNDATION TRUSTEE COMPANY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 8tatus The Bedgebury Foundation TN8tÈe Company Is a pthte company Ilmtted by guerantee Incorporated in England and Wales. The regtstered office Is Pricyy Cottage. Romford Road, Pembury, Kent, TN2 4JD. Accountlng pollcle• The prfndpal accountlng pdicles adopted, Judgements end key sources of e8fjmation un¢ertdnty In the preparakn ol the financlal st8tements are as fdknvs. 11 8asl• of prnparatlon The consolldated flnandal Statements have been prepa￿d In accordance wlth 'Accountlng and Reportlng to CharItles.' Statement of Recommended Pradc8 gppll¢able to cheritl8s preparing 8ccounts In ac¢ordan¢8 with tJ)e Fin8nc181 Reporting Standard apphcabl8 In the Unlted Klngdom and Repub￿¢ of Ireland (FRS 1021° (affectlve 1 January 2019) - (charl￿88 SORP (FRS 102)), the Flnandal Reporting Standard appllcablè In the UK and Republlc of Ireland (FRS 102) and vlth the requirements of the Companle8 Act 2006 and the Charllie8 Act 2011. The 38dgebury Found8tion Twstee Company meet8 the deflnition of a public benefft entlty under FRS 102. Assots and118blliiles are Inllially recognlsed at hl8torical oosl or transac￿0￿ v81ue unle88 otherwisa stated In the relevant Bccourrtlng pollcy note(6). There are no rnaterlal uncertalntt88 ab￿t the chartws ablllty to COn￿nUe. and so Ihe golng concem basls of a¢counting has been adopted. The flnand818tatements ar8 presented In pounds 8terflng and round8d to the nearest pound. 2.2 Group Accounts The consoild8t8d finaneial $18tements o)nsist of the parent company and Its vh)olly owned subsidiary, The Bedgebury Foundation. The parent company has no 8¢tiVity of its own, and no assets or liabilhles. The statement of financial activtties, balan￿ sheet, and note8 to the accounts thereftKe relate to th8 group. 2.3 Incom• Income Is recognlsed when the charity It legally entlued to tt, receipt Is consldered probable, and the amount can be mBa8ured reliably. Income from investments relates to Interest ￿kn1¢h Is recognised In the period to whlch It relate8. and dI￿dendS which are recognised on rec8lpt. 2A Expendlturg Expendftur8 Is recognlsed ￿en a pr88ent legal or constructive obllgatlon exlsts at the balance she6t dats as a re8uII of a past event. It Is probable that 8 transfer of economlc beneflts wlll be requlred to settk the obligation. and the amount can be estlrnated reliabty. All expenditure is accounted for on an 8c¢ruals basls. 12 THE BEDGEBURY FOUNDATION TRUSTEE COMPANY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 2A Exp•nditure contlnued Grants payable are recognised as liabilities when communicated in writing to the recipient, except where the offer is conditional and fulfilmenl of the conditions is not considered probable, or where meeting the conditions is not within the control of the recipient. In these circumslances, the grant is recognised when the conditions have been met. Commitments for perfomance related grants are recognised to the extent that the performance related criteria are met. Expendrture has been classified under headings that aggregate all costs related to the category. Support C05t5 are those relating to functions which assist the work of the charity but do not directly relate to its activities. Support Costs have been allocated to raising funds and Gharitable activities on the basis of estimated usage.. raising funds 20 % , grantmaking activity 70'A, old school 10010. 2.5 Penslon contributions The charity operates a defined conlribution salary sacrifice pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 2.6 Investments Investments are initially recognised al their transaction value and subsequently measured that their fair value as at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year. Unlisted investments are held at cost less impairment. 2.7 Other financlal Instruments The charity only has financial instruments of a kind that qualify as basic f inancial instruments. Short temi debtors, prepayments and Greditors are measured at their settlement value. 2.8 Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustee. Restricted funds are funds which are to be used in accordance with specific conditions imposed by the donor or which have been raised for specrfic purposes. Endowment funds are permanent capital arising from the sale of Bedgebury School by the predecessor charity. The fund may only be expended on the costs of maintsining the capital. A total return accounting policy has be8n adopted for the endowment fund. Total income In the prior period, income of £627 was allocated to restricted funds and £163,857 to endowment funds. 13 THE BEDGEBURY FOUNDATION TRUSTEE COMPANY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Total exp•nditure Direct costs 2024 Support costs 2024 Total 2024 Total 2023 Expenditure on raising funds Expenditure on charilable activities.. Grant-making Old School 31,612 4,899 36,511 36,190 147,119 4,716 17,146 2,449 164.265 7,165 110,388 3,569 183,447 24,494 207,941 150,147 Direct costs comprise: Investment management fees Grants awarded (see Note 5} Software licences Insurance Premises and other costs 31,612 139,728 5,171 2.765 4,171 31,304 84,621 4,418 2.524 2.849 183,447 125,716 Support costs comprise: offi￿ and staff costs Finance costs Governance costs: Independent examination Accounts pr@paration Trustees, expenses 20,947 67 21,285 98 2,150 1,330 1,750 1,250 48 24,494 24,431 In the prior year, expenditure of £Nil was applied to restricted funds and £32,430 was applied to endowment funds. 14 THE BEDGEBURY FOUNDATION TRUSTEE COMPANY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Grants payable Individuals Institutions 2024 2024 Total 2024 Total 2023 Granl commitments brought forward New grants awarded Granls withdrawn or refused Granls paid 18,321 128,743 147,064 174,041 174,041 (10,396) (23,917) (34,313) (3,925) (191,831) { 195,756) 206,151 131,861 { 47,240) (143,708) Grant commitments carried forward 4,000 87,036 91,036 147,064 All grant commitments carrid foNard are payable within one year. The number of grants made during the year to institutions was 50 (2023: 31) and no new grants were made in the current nor preceding year to individuals. Ernployees Total 2024 Total 2023 Staff costs comprise: Wages and salaries Employer's pension contributions 19,341 1,606 19,754 1,531 20,947 21,285 During the year the average monthly number of employees was 1 {2023'. 1). No employees had remuneration in excess of £60,000 in the Current nor preceding period. Listed investments At fair value.. At 1 September 2023 Additions at cost Disposals at carrying value Unrealised change in market value 4,914,572 1,535,185 (1,565,043) 436,412 At 31 August 2024 5,321,126 During the year realised gains on disposal were £70,796 (2023.. losses of £17,536). The listed investments have a historical cost of £4,776,953 (2023: £4,860,324). Investments held outside the United Kingdom have a fair value of £3,401,745 (2023.. £2.800,932). 15 THE BEDGEBURY FOUNDATION TRUSTEE COMPANY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Creditors: amounts falllng due within one year 2024 2023 Grant commitments (see Note 5) Other credrtors Accruals and deferred income 91,036 1,041 8,723 147,064 1,001 8,217 100,800 156,282 Related party transactions The key management personnel of the charty is considered to be the Trustees. The Trustees did not receive any remuneration, benefits or reimbursed expenses during the period nor during the preceding period. 10 Analysls of net assets between funds Unrestricted funds Restricted Endowment funds funds Total funds Current year Investments Net current assets 5,321.126 14,980 5,321,126 139,075 105,989 18,106 Total net assets 105,989 18,106 5,336,106 5,460,201 Unrestricted Restricted Endowment funds funds funds Total funds Prioryear Investments Net current assets 4,914,572 (4,364) 4,914,572 95,045 82,291 17,118 Total net assets 82,291 17,118 4,910,208 5,009,617 16 EPn4J